GE Aerospace Stock Soars as Q4 Revenue, Profit Blow Past Estimates | Global News Avenue

GE Aerospace stock (General ElectricShares soared in premarket trading Thursday after the company reported fourth-quarter results that were well above analysts’ expectations.

The maker of aircraft engines and other parts reported net income of $1.9 billion, or $1.75 a share, on revenue of $10.81 billion. Analysts had expected Profit was $1.2 billion, or $1.10 per share, on revenue of $10.01 billion, according to estimates compiled by Visible Alpha.

GE Aerospace’s revenue mainly comes from two divisions, Commercial Engines and Services and defense and advancement. The two companies’ revenue was US$7.65 billion and US$2.52 billion respectively, while analysts had expected US$7.39 billion and US$2.53 billion.

In the next fiscal year, GE Aerospace expects adjusted revenue to grow by low double digits, rising 10% to $35.1 billion in 2024. Adjusted revenue will increase 10% to $35.1 billion. Earnings per share (EPS) It has risen from $4.60 this year to $5.10 to $5.45.

Shortly after the report was released, GE shares rose 7%. Since its separation from GE Vernova, the stock has gained nearly 40% as of Thursday (GEV) last April.